“Can I afford to hire?”

“Can I afford to hire?”

Here’s how to answer that question.

Most business owners decide whether to hire, whether they can afford to hire, based on how much money is in the bank account right now.

If there’s money in the bank account now, they hire.

If there’s not, they don’t.

But that’s just today’s cash.

Will you have enough money later if you hire now?

So you could hire and hope there’s enough money to keep paying the new hire in the future.

Or you could not hire, and your business gets stuck or stalls without that extra pair of hands you needed.

Instead, you can look at a cash flow projection and you could put the cost of the hire, the training, the onboarding in there and see “okay, I am going to be able to afford it.”

It’s like going on a long car journey.

You could just start driving and hope you won’t run out of fuel.

You could stay at home too worried and not have a trip, or you could at least roughly plan out where you’ll stop to refuel so you know you’ll actually make it.

Imagine you knew what your bank account would look like over the next six months and how much the hire would cost until they’re paying for themselves.

The hiring decision then becomes easy, and you can make it with more confidence.

That’s the benefit of using the numbers to make decisions.

Less blind hope, guessing or being held back by fear.

Just moving forward with confidence.

If you want to see whether you can afford to hire, you’ll need a cash flow projection and we’re going to build one in my upcoming workshop called “The Cash Flow Oracle”.

If you want the details of the workshop where it will be built, no homework, no theory, we’re gonna build it.

If you want the details just DM me the word ORACLE on Instagram @benmcadamig and I’ll shoot them across.